SBI Holdings Denies Plans to sell B2C2 Stake
A recent report by Bloomberg suggested that SBI Financial Services, a division of SBI Holdings, was considering a $100 million sale of its stake in B2C2, a crypto market-making subsidiary. Though, SBI holdings has denied these claims.
According to an SBI spokesperson, the company is not exploring any sale options. B2C2,which was fully acquired by SBI in December 2020,has not commented on the matter. The initial investment of $30 million in July 2020 was aimed at strengthening SBI’s crypto services for its vast customer base.
As the acquisition, B2C2 has made significant strides in the crypto market. In August 2023,it acquired Woorton,a French market-making firm. This move allowed B2C2 to gain regulatory approval within the European Union, expanding its services and providing liquidity to institutional clients across Europe.
SBI Holdings remains a key player in the digital asset space. The company has collaborated with blockchain firms and invested in various crypto projects. These efforts highlight SBI’s dedication to integrating cryptocurrencies into conventional finance.
For more details, visit the Bloomberg website.
